NEW YORK, Nov. 01, 2019 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Uniti Group Inc. (“Uniti” or the “Company”) (Nasdaq: UNIT) in the United States District Court for the Eastern District of Arkansas on behalf of those who purchased or acquired the securities of Uniti from April 20, 2015 and February 15, 2019, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Uniti investors under the federal securities laws.
The Complaint alleged Defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company’s financial results were not sustainable because its customer Windstream had defaulted on its unsecured notes; (2) as a result of the foregoing, Defendants’ statements about the Company’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.
Investors who purchased or otherwise acquired shares during the Class Period should contact the Firm prior to the December 30, 2019 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.
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